Active
16 Days on market
51 Melrose St #5F Melrose — Photo 1 of 40

51 Melrose St #5F Melrose — Photo 1 of 40

$589,900

Investment Analysis — 51 Melrose St #5F

Melrose, MA 02176

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 2-bedroom in 02176 carries an estimated $2,820/mo in gross rent — about a 2.26% cap rate and $13,347/yr in estimated NOI at the $589,900 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

2

Baths

2

SqFt

1,236

Style

Condominium

Built

1972

VERY RARE OPPORTUNITY East facing, 5th-floor front corner unit at the highly desirable Melrose Towers Condominiums! This spacious 2-bedroom, 2-bath residence enjoys one of the premier locations in the complex, offering beautiful south/east-facing views, abundant natural light, and spectacular morning sun. One of the most exceptional features of this unit is the parking. It includes three parking spaces, one outdoor space (#25F) plus TWO highly sought-after indoor garage spaces within the building. This may be one of the only units in the complex to offer two indoor garage spaces, making this an exceptionally rare opportunity. The spacious living room/dining room combination features new wood-look laminate flooring and opens directly to a screened-in balcony, an ideal place to enjoy your morning coffee, sunrise views, and some of the best views in the complex. The primary bedroom also enjoys beautiful morning light and features a generous walk-in closet. Bedroom #2 offers a large closet and convenient stackable in-unit laundry. The fully applianced kitchen features stainless steel appliances. Recent improvements include fresh interior paint and new wood-look laminate flooring in the living room, dining room, and Bedroom #2. An additional private storage cubicle is located on the lower level. Melrose Towers offers an impressive array of amenities, including indoor and outdoor swimming pools, an atrium area, and tennis courts, all within a well-established condominium community. Showings begin at the Open House on Sunday, August 30 at 12:00 PM. Offers, if any, are due Tuesday, September 1 at 5:00 PM. Please park in space #25F or designated guest parking only. Don’t miss this truly rare opportunity to own a bright and spacious 5th-floor corner unit with exceptional views, three parking spaces, including two garage spaces, and outstanding amenities at Melrose Towers!

Estimates — not financial advice

These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.

Property Details

Financials

Original Price$589,900
Annual Taxes$4,895
HOA Fee$623

Parking

Garage2
Off-Street3

Interior Specifications

Total Rooms5
FireplacesNone
FlooringTile, Vinyl, Carpet
BasementN

Climate & Utilities

HeatingElectric Baseboard, Electric, Individual, Unit Control
CoolingCentral Air, Individual, Unit Control
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionStone
RoofTar/Gravel, Rubber
Foundation--
ZoningURC

Property & Lot

Acres--
SqFt Lot--
Lot Features--

Amenities & Appliances

Range • Dishwasher • Disposal • Microwave • Refrigerator • Washer • Dryer

Neighborhood

Public Transportation • Shopping • Pool • Tennis Court(s) • Park • Medical Facility

Geography

Floorplan Breakdown

Structural Layout

Unknown
Living RoomKitchenMaster BedroomBedroom 2Bathroom 1Bathroom 2
Living Room
Lvl null

19.5 x 11.5

Flooring - Laminate, Balcony / Deck, Cable Hookup

Kitchen
Lvl null

18 x 8

Dining Area

Master Bedroom
Lvl null

14 x 13

Bathroom - Full, Walk-In Closet(s), Flooring - Wood, Cable Hookup

Bedroom 2
Lvl null

14 x 12

Bathroom 1
Lvl null

7 x 5

Bathroom - Full, Bathroom - Tiled With Shower Stall, Flooring - Stone/Ceramic Tile

Bathroom 2
Lvl null

7 x 5

Bathroom - Full, Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile

Listing Provided By

Listing Agent: John Bulman

Listing Office: Brad Hutchinson Real Estate

MLS® Number: 73569094